Bitmain Halts Employee Salary Amid Financial Distress and Market Volatility

Bitmain, a major ASIC manufacturer, has halted employee salary payments since September due to financial struggles amid market volatility and halted IPO plans. Key Takeaways Bitmain, once a juggernaut in the Bitcoin ASIC manufacturing space, has plunged into financial turmoil, as reported by a technology information service platform, Leiphone, resulting in the suspension of salary payments to its employees since …

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Pi Network vs. WOW EARN: Make an informed choice

In the populated world of the metaverse, the gateway to Web3 has become a guidepost for millions of enthusiasts around the world. Similarly, the crypto mining industry has woken up again owing to cloud mining and mobile mining options. The original concept of mining done by smartphones was introduced by Pi Network. But now the company is facing controversy and …

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Bitcoin Eyes Parity with Gold Amidst the U.S. Navigating a Perilous Debt Conundrum

Bitcoin’s price may rival gold’s as the U.S. grapples with its “debt death spiral,” according to Jefferies analysts. Despite losing value since its late 2021 peak, Bitcoin recently saw a 2.7% increase, reaching a two-month high of $28,000. Key Takeaways Bitcoin, the preeminent cryptocurrency, might assert itself as a competitor to gold amidst the U.S. Federal Reserve grappling with the …

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Ethereum Foundation and Vitalik Buterin Cash Out, ETH Price Dips Follow

The Ethereum Foundation recently sold 1,700 ETH for 2.738 million USDC at a price of $1,611 per coin. After the sale, ETH’s price dropped by 1.45%. Key Takeaways A ripple of consternation is weaving through the cryptocurrency market as on-chain data reveals substantial Ethereum (ETH) sales by the Ethereum Foundation and its co-founder, Vitalik Buterin, shortly before the coin experienced …

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FTX Hacker Exploits Trial Limelight to Obscure Hefty Ether Transfers Amidst Crypto-Battlefield

In the ongoing FTX hack saga, the hacker, known as “FTX Drainer,” has been transferring stolen funds, raising concerns that they are leveraging the media attention around Sam Bankman-Fried’s trial to conceal their actions. Key Takeaways In a meticulous intertwining of cybercrime and legal drama, the FTX hacker, notoriously known as “FTX Drainer,” skillfully intertwines the media frenzy surrounding Sam …

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Breaking: Web3 platform Galxe is hacked, multiple users report lost funds

Web3 platform Galxe has experienced a security breach, leading to multiple users losing access to their funds and wallets. The breach appears to have occurred through a DNS account conducted via the platform’s domain nameservers on Dynadot. Key Takeaways Galxe, a prominent web3 community-building platform, has fallen victim to a significant security breach. A growing number of users are reporting …

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XRP Ledger Triumphs with 83 Millionth Close and NFT, DeFi Integration

XRPL’s significant milestone and the incorporation of NFT and DeFi features underscore a noteworthy evolution in the cryptoverse. Key Takeaways The XRP Ledger (XRPL), Ripple’s distinguished smart contract platform, has achieved a noteworthy milestone by successfully closing its 83 millionth ledger this Thursday, showcasing the rapid developmental strides the platform is making in its persistent evolution. In a bid to …

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FTX in Turmoil as Co-Founder Admits Faking Insurance Fund Figures

Co-founder Gary Wang admitted to generating false figures using a random number generator, raising concerns about trust and transparency. Key Takeaways In a revelation that has sent shockwaves through the cryptocurrency world, Gary Wang, co-founder of FTX, has admitted to falsifying the exchange’s insurance fund figures, essentially throwing the platform and its founder, Sam Bankman-Fried, under intense scrutiny. FTX, once …

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US Treasury Takes Action Against Cryptocurrency Wallets Linked to Illegal Fentanyl Trade in China

The US Treasury’s OFAC has blacklisted cryptocurrency wallets linked to illegal fentanyl trade in China, involving $3.8 million across Bitcoin, Ethereum, and Tron networks. Key Points: The Office of Foreign Assets Control (OFAC) of the United States Treasury has blacklisted a number of cryptocurrency wallets linked to the illicit fentanyl trade, primarily based out of China, adding them to its …

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Sui Foundation Redirects 117 Million SUI Tokens to Bolster Ecosystem Development

In a calculated move to propel its ecosystem’s growth, Sui Foundation is strategically reallocating 117 million SUI tokens, constituting 13.6% of its circulating supply and 1% of the total supply, valued at $51 million. Key Takeaways Target Development Support The freshly reallocated resources will predominantly back Sui’s developing ecosystem. The areas of focus include providing grants to developers, thereby encouraging …

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